Fundamentals:
On Tuesday (January 17), the price of gold fluctuated from around 1918 to around 1903, and the daily line closed with a small negative line.
Today's data
Technical aspect:
On the daily line, the gold daily line closes the small negative line, and is currently running near and above the short-term line. The 5-day and 10-day moving averages are running upward, the mid-term line is running upward, the MACD is running upward, and the KDJ is running downward. The indicators have no obvious direction.
The Fed's interest rate hike is coming to an end, and inflation has continued to cool down recently. The situation in Ukraine and Russia remains unchanged, and the fundamentals are still in favor of bulls.
Gold fluctuated slightly yesterday and rebounded near 1900. However, it did not pull up again, but fell into shocks. The daily line closed with a small negative line. This does not mean that the daily line is blocked, so the bullish trend of the daily line It is still continuing, but it does not rule out the possibility of stepping back on the support near the 10-day moving average in the short term, that is, the daily line has a correction for a few days, then stabilizes and then continues to rise, so the overall trend is still dominated by lows and multiples. Today, focus on the support near 1900, and then the support of 1890-1885, which is just near the 10-day moving average. Today, we can try to do more in these two support areas. (Tips for swing midline trading opportunities: wait and see.)
Pressure: 1920-1930-1950-2000
Support: 1900-1890-1880-1870-1866-1850-1830-1800
Spot gold:
1. 1905-1900 wet storage long, stop loss 1898, target 1915-1920-1930-1950-2000
2. 1890-1880 wet storage long, stop loss 1878, target 1900-1920-1930-1950-2000